Event Driven Supply Chain - A methodology of transformation enabled by complex event processing technology, providing a platform for enhanced supply chain collaboration. The solution provides a mechanism for automation in strategic and tactical decision making by correlating real-time events of individual players of the chain.
This paper seeks to explore applications of the Complex Event Processing technology in monitoring, managing and enhancing future Supply Chains, through real-time correlation of events, timely reaction and response to business scenarios, incidents and exceptions, and real-time routing of alerts and incidents to people within organizational hierarchies. The idea is to reduce latency in decision making through a proactive intelligent system that works like the human mind, captures the situational snapshot of the enterprise at any moment in time and maximizes business beneﬁ t through the ability to respond to a business situation in the shortest possible time.
Excerpts from the Paper
Players in supply chains operate on wafer-thin margins, and look to develop efﬁciencies through collaboration with other partners in the supply chain. A Supply Chain member’s performance is as much dependent on the other participants within the chain, as on the internal operations of the member. The supply chain system leans heavily on Visibility, Predictability and Optimization in order to stay viable and compete as a powerful force in the market place. Precision, accuracy of information, and a single source of truth is of utmost importance in making impactful decisions for all players of the chain. The efﬁ ciency of a supply chain is dependent upon how quickly each individual participant can respond to disparate events, and take timely action that is local to that individual’s enterprise
The Advanced Control Tower is a product agnostic framework based on the Complex Event Processing (CEP) technology. It processes large volumes of seemingly independent captured events occurring across multiple systems in multiple slices of times, correlates and identiﬁ es patterns based on the business rules and previous experience, and triggers alerts or initiates processes in IT applications through actions, thus enhancing decision making, value of information and response time. Value is delivered through reducing the latency at each point in the decision making cycle.